Rupa & Company Ltd. said it has scaled the world's highest peak to celebrate 50 years of its operations.
But the first-such brand exercise failed to uplift investor sentiment, with the company's shares falling nearly 6 percent today. The company's shares have declined nearly 64 percent from its peak in June 2017 to a near-four-year-low.
Innerwear makers are bearing the brunt of a consumption slowdown in India. Indians have cut spending on boxers to bloomers as the economy sees a decline in demand. And a liquidity crunch stemming from last year's IL&FS crisis has aggravated that slump.
Last week, Jockey International Inc. celebrated 50 years of sending humans to the moon in “comfortable innerwear”. Jockey claimed to have engineered innerwear for the first manned mission to the moon, also called the “mankind's greatest voyage” on Apollo 11.
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